Which of the Following Best Characterizes the Market System

question 70

Multiple Choice

Which of the following best characterizes the market system?

• A)Households buy goods and sell factors of production.Businesses sell goods and buy factors of production.
• B)Households buy goods and factors of production.Businesses sell goods and factors of production.
• C)Households sell factors of production.Businesses sell goods and buy factors of production.
• D)Households buy and sell goods.Businesses buy factors of production.
• E)None of the above.

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Definitions:

Normal Distribution

A bell-shaped probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Sample Size

Sample size refers to the number of observations or data points collected in a study.

Sampling Distribution

The arrangement of probabilities for a specified statistic, coming from a randomly chosen sample.

Sample Proportion

The fraction of the total sample that represents a particular trait or characteristic.